It's interesting to see how market will react over Moody's downgrades India's rating to BAA3, maintains negative outlook.
Asian stocks were set to come under pressure following a dip in Wall Street futures as US President Donald Trump vowed to use force to end violent protests in American cities.
Equities shrugged off reports that Chinese officials had told agricultural companies to pause purchase of some U.S. farm goods, threatening the trade deal.
Futures on the Dow Jones are currently trading lower by 100 points after the gauge posted a modest advance overnight.
The Dow Jones Industrial Average rose 91.91 points, or 0.36%, to 25,475.02, the S&P 500 gained 11.42 points, or 0.38%, to 3,055.73 and the Nasdaq Composite added 62.18 points, or 0.66%, to 9,552.05.
🎯 News & Impact 🎯
Major Results Today :
Britannia, Indigo
🎯 Welspun Enterprises Q4FY20 : Revenue down 35.1% to Rs 470.7 crore Net profit up 3 times to Rs 90.7 crore Ebitda down 27.5% to Rs 65.2 crore Ebitda margin at 13.9% from 12.4%
May Auto Sales
Hero MotoCorp: Total sales at 1,12,682 units.
Eicher Motors: Total sales at 19,113 units for Royal Enfield while those for the Commercial Vehicle division (VECV) at 686 units.
TVS Motor: Total sales at 58,906 units.
Ashok Leyland: Total sales at 1,420 units.
Atul Auto: Total sales at 410 units. SML Isuzu: Total sales at 16 units.
🎯 Kotak Mahindra Bank :
Founder and CEO Uday Kotak plans to sell 5.6 crore shares or 2.83% equity through a 100% secondary placement.
Negative for the stock.
🎯 Tata Power :
Acquired 51% stake in TP Central Odisha Distribution for Rs 178.5 crore. Government of Odisha will hold the remaining stake in the venture.
🎯 MOIL :
Prices of different grades of Manganese Ore and other products reduced by 10% from June 1 as compared to the previous month.
🎯 SBI Cards :
27,000 new cards were issued from applications already in the pipeline at a rate of 1,000 cards per day.
🎯 IRCON International :
🎯 IRCON International :
Signs a Memorandum of Understanding (MoU) with National Investment and Infrastructure Fund (NIIF) and Ayana Renewable Power to explore and collaborate on opportunities in the solar energy sector.
🎯 Ratnamani Metals and Tubes :
Gets orders worth Rs 57 crore for steel tubes.
🎯 KEC International :
To consider repurchase of NCDs issued in October 2016 on June 4. The NCDs are worth Rs 100 crore.
Positive for the stock. 👍
🎯 SH Kelkar :
Promoter Kedar Ramesh Vaze acquired 8.5 lakh shares (0.6%) at Rs 58.45 per share while HDFC MF sold 14.35 lakh shares (1.02%) at Rs 58.41 per share.
Positive for the stock. 👍
🎯 Supreme Petrochem :
Promoter acquired 5.34 lakh shares (0.55%) at Rs 161.65 per share.
Positive for the stock. 👍
🎯 Sadbhav Engineering :
Promoter Shantaben Patel created pledge of 10 lakh shares on May 22.
Negative for the stock.
🎯 Ajanta Pharma :
Promoter Aayush Agrawal created pledge of 95,000 shares between May 27-28.
Negative for the stock.
🎯 Zuari Global :
Promoters released pledge of 4.95 lakh shares on May 26.
Positive for the stock. 👍
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